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Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
 The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday that also would invest in infrastructure to support mining operations and reduce corporate taxes.
The new 40 percent tax on resoure profits targets industries that have grown rapidly as they've produced the raw materials that feed burgeoning Chinese and Indian manufacturing demand.
Mining royalties currently paid to Australian state governments do not reflect rising commodity prices. The government says mining profits rose by 80 billion Australian dollars ($74 billion) in the past decade, yet government revenues from resources increased by only AU$9 billion.
Andrew Forres, chief executive of Fortescue Metals Group Ltd., last week warned that higher taxes on mining could "kill the golden goose" that had kept Australia out of recession during the global economic downturn. Mine companies also say higher taxes would stifle investment in the resource sector and cost jobs.
Thetax overhaul Prime Minister Kevin Rudd proposes requires Parliament's endorsement to become law. It would introduce the so-called Resource Super Profits Tax in July 2012. The company tax rate would be cut from 30 percent to 29 percent in July 2013 and to 28 percent a year later.
The government forecasts tht the cut in company tax combined with the mining tax will increase Australia's gross domestic product by 0.7 percent a year.
"These changes will not be welcomed by every business or every interest group, but they are the considered, responsible changes we need if we are to turn our success during the gloal recession into enduring gains for our economy, our people and our nation," Rudd said in a statement.
Treasurer Wayne Swan told reporters he could not say whether tax legislation would be introduced to Parliament before national elections are held at a date to be set late this year.
Under the tax overhaul, resource-rich states would continue to reap mining royalties, but the federal government would refund those costs to mining companies before calculating their federal tax debt.
The tax would be levied on profits after all the costs of mining operations, capital investment and dividends to shareholders are deducted.
Marginally viable mine companies would potentially be better off in cases where the costs of extracting minerals barely cover royalty charges because of a price downturn or when the ore deposit is almost exhausted.
About AU$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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Showing 4971 to 4975 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Vedanta Resources Plc - India
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